Finance Committee

 

Committee Member

Mrs Sandra McCurrach (Chair)

Mrs Heather Gosney (Head)

Mrs Louise Woodroffe (Associate member)

Mrs Joanne Eaton

Mr Toby Porritt

 

Terms of reference:

 

  • In consultation with the Headteacher, to draft the first formal budget plan of the financial year
  • To establish and maintain an up to date 3 year financial plan
  • To consider a budget position statement including virement decisions at least termly and to report significant anomalies from the anticipated position to the Governing Body
  • To ensure that the school operates within the Financial Regulations of the LA
  • To monitor expenditure of all voluntary funds kept on behalf of the Governing Body
  • To annually review charges and remissions policies and expenses policies.
  • To make decisions in respect of service agreements
  • To make decisions on expenditure following recommendations from other committees
  • To ensure, as far as is practical, that Health and Safety issues are appropriately prioritised
  • To determine whether sufficient funds are available for pay increments as recommended by the Headteacher
  • In the light of the Headteacher Performance Management Group’s recommendations, to determine whether sufficient funds are available for increments
  • To monitor progress towards the SFVS
  • To review Roles and Repsonsibilities, Financial Regulations and Financial Procedures documents
  • Additional items which individual Governing Bodies may wish to include

 

WORK OF THE COMMITTEE 2016 - 17

 

The committee met in October, February and March

The members discussed progress towards the latest Audit report. They were informed of latest information regarding changes to the National Funding Formula and possible implications for the school.  They agreed to re-pool some funds to the LA.  The Teachers Pay Policy was agreed in line with LA recommendations.  They discussed the latest Financial Reports from the Finance Patch Officer.  They monitored the expenditure and auditing of the private school funds and FOBS funds. They recommended to the Full Governing Body that the Living Wage should be paid where applicable.

The committee discussed and approved expenditure on the older building to change its use to accommodate the EYFS/KS1 children.

 They set a budget for the financial year 2017 -18 and recommended its adoption by the Full Governing Body.  Member discussed requests for expenditure from other committees and approved expenditure beyond the Head Teacher's approval limit.